How Treasury Automation Enables Strategic Risk Management

By Daniel Shaffer November 15, 2017

Accounting for widgets is not the role of a modern treasury leader. Treasury’s shift from tactical to strategic is noted by AFP in its recent study, 2017 AFP Strategic Role of Treasury Survey, where “80% of survey respondents believe that treasury is currently playing a more strategic role at their organizations than in the past three years.” However, in the absence of advanced technology, the treasury team is so encumbered with manual tasks that delivering strategic advice and decision support is out of reach.

The treasury team leader at Newell Brands, a $16B consumer goods firm, realized the opportunity to provide a greater result for the organization by implementing a cloud-based treasury solution following a recent acquisition. Download the case study for details of Newell Group’s treasury transformation with Kyriba and FiREapps.

Immediate impact
The case study reveals a wide range of powerful quantitative results, including:

  • 95 percent cash visibility, a increase of more than 45%
  • $25+ million average reduction in FX transaction net losses per year
  • $1.3 million (USD) reduction in trading fees

After eliminating spreadsheets as its primary treasury management tool, Newell’s treasury team realized immediate quantitative results. 

“Our innovative treasury team realized the value of implementing Kyriba’s modern treasury technology to generate a real return on investment by automating manual tasks and focusing on critical information support,” said Amit Singh, SVP and Treasurer at Newell Brands. “In a high volume, low-margin industry, reducing balance sheet noise is critical. Our treasury team was able to develop an automated workflow with Kyriba, FiREapps and FXall that dramatically reduced our FX transaction net losses year over year, among many other benefits and savings.”

Additional Reading: Challenges of Centralizing FX Operations for Global Corporates

As the strategic role of modern treasurers continues to expand, beyond cash management and hedge accounting, treasury leaders will need to find new opportunities to create value for their organization with the support of treasury technology solutions.

For more results and details, download the full case study.

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